This page provides transcripts and keywords from some of our videos. The preferred way to see the videos is to go directly to our YouTube page. And see additional videos on our StockTwits page. These transcriptions and keywords are primarily aimed at helping you find a video using Google and other automated search tools.
Hi. Let's see what's new in version 2.3.13 of Trade Ideas Pro. The primary change was in the configuration window. Let's look at the filters tab. Notice how we put the min and max values side by side. This saves space. This list was twice as long in the old software, but they both contain the same number of options. That's still a long list, so you might want to use the search tab. Notice the new drop down list with the categories. You can quickly find the alerts and filters related to candle patterns. Or maybe you prefer to trade with fundamentals. Or moving averages. This will help you find what you're looking for quickly. These categories should look familiar to you. In a previous lesson I showed you how to use a similar feature on the web site. That was called the "index of alerts and filters". As always, you will not lose your old settings when you upgrade. So please download the latest version from our web site today.
This is Dan Mirkin with Trade Ideas and this is June 1st, were about 15 minutes till the markets close and this is our first inaugural show with Stocktwits. Just so everyone knows, I tried to do this about 30 minutes ago and did a whole show where I just taped the opening window, kind of funny; we were so excited because I thought I did such a good job but then we found out we taped nothing. So, round 2 were starting again. What were going to show you today is how we interact with market information; streaming, real time market information in the form of data mining. We at Trade Ideas spend a lot of time designing events for you, the traders, and market participants to watch in real time. The idea is very similar to on demand cable, before you use to watch TV based on the TV’s time, and similar to trading before hand if you found the right opportunity or you heard about the right stock for some reason maybe you got lucky and you got in and you made money or as the industry likes to say just buy and hold. Buy and hold just means you don’t know anything, it should be called buy and hope for the best. But we know that in today’s market with flash crashes and increased volatility that’s not a good way to interact with the market landscape. So what I’m going to show you today is how our software, Trade Ideas helps people interact with it and basically just give some good examples of what the advantages are of having this type of view stream in front of you when your interacting with the market. So I’m going to get rid of my beautiful face and transition right to the view screen. What you’re seeing here is a combination of several windows; this is a trading layout without all the execution panels and things like that because for this show we are going to keep things relatively simple. This is think or swim with three different windows to monitor different stock market events as they happen in real time. I’m watching a five minuet chart right here and I’ve got just a markets minder’s, probably hard for you guys to see but the dow industrials is down 56 points we are still above ten thousand at 10, 080 and were right at the close, 10 minutes till the close and there’s not much going on but if you’re watching this rich stream of data you can actually realize there is quite a bit going on. So let me show you, on the blue window at the bottom on the bottom right hand corner I’m watching stocks trading an unusual amount of volume, they have to trade at least two times their actual daily volume which is all being computed by computers in the back end to show up. So if we take a look at something like SVVS and that’s SVVS communication you can see by the volume bar that this thing is coming down pretty hard on high volume. Again, does this mean it’s a buy or a sell? We don’t know that and that kind of takes me into the segway that there is no holy grail in the market, there’s just a question of information and what you make of it. We take this information to see that listen, I need to check this out further, I need to evaluate. Technically speaking I can tell that this stock is weak but it might be over sold. However longer turn, this might be the time to get out if your long or to initiate a short position if you’re a short player. Juniper Networks, another stock that most of everybody is familiar with is today trading at 2 times its average daily volume considering that SVVS Communication also a network player is there, maybe there is something going on in the communication sector. This technology you’re watching forces you to think outside the box because it’s bringing information to your attention that you otherwise would have no way of knowing unless you specifically watch the stocks that you’re following. Since no one really does that, nobody knows all the stocks out there the advantage is your able to keep your eyes on a lot more information without being distracted and you can find the little nuggets of strength in another wise completely bearish market and this is what is happening right now. Were selling off into the close you can tell by what I call the sea of red coming through the liquid movers stocks trading over a million shares a day or more. Everything is making new lows but TZA, couldn’t click on it fast enough but I will; TZA was making a big up move and it’s a small cap bear fund so again notice how it pointed you in the direction of, if you wanted to play the up side maybe the upside should be played on the bearish ets. Let’s talk about the three windows that were watching, and were watching these windows to give ourselves an advantage over people that don’t have this information much like if you were like somebody who is an avid TV viewer which I am isn’t it great to know that you have over a thousand channels to choose from? Including on demand even though you hardly watch any of them it’s nice to know you have a choice. This is the same thing with the market it’s nice to know that you have a choice even though the market is selling off, right now NEU, is trying desperately to make a little bit of a comeback. Would it be successful, we don’t know but we have a window to monitor stocks rallying off the bottom and maybe again we place bids and just stop them out at new lows. So we take these calculated moves and this information and just allows us to be ahead of the curve. Imagine most other investors, if you look at these letters other than price line most people probably have no idea what most of these stocks are. The reason is that there is tons of products out there in the financial market place, there’s a lot of things trading a lot of things making a move, when you compare a market a DOW Jones industrials down 79 points that’s really almost nothing percentage wise but look at all this action that is happening, you’ve got stocks crossing its support, you’ve got stocks crossing below their moving averages again, if you have any kind of strategy, this is a great tool to be aware of movements that otherwise missed your scope. This is what were about, about increasing your eyesight of the market from a very narrow scope which is what most people are use to, to a wide scope without being distracted. The reason you’re not being distracted is just because you’re seeing this information does not mean you have to act on it, it just means that there is something interesting to take a look at and let your instincts and other things guide you. Price line, again remember we had said, it was trying to make a little bit of a rally but it didn’t succeed and this is almost psychological, you can take this information, you can see what’s going on in it and you can make great inferences as to what to do. Maybe after battling all day with the bulls and the bears the bulls are finally giving up which is what it looks like is happening based on everything I see and feel from the market. We are just coming in hard to the close, target, amat; it’s just not looking good for tomorrows open. All of this is being shown to you by the data mining that is available. Remember too that when you’re working with trading tools and especially ones where your making real time information we try to make it as easy as possible in our specific layout so that we can take advantage of moves the fastest way possible and one of the fastest ways is by not having to keep typing and clicking everywhere so we try to link all these windows to our trading platform, so when I see something interesting like HMN, you know 2 just crossing that 2 times average daily volume I can say hey, all I have to do is click on a symbol and everything is loaded, if I had my execution panel and my portfolio management tools up all of this would easily be updated all at the same time. The most important thing to see here is that most people don’t realize how much information is happening in the market that there is tons of stuff going on, again notice apple, trying to rally off the bottom maybe it will maybe it won’t but there is tons of information and it’s up to you to take that information and make it useful and that’s what we’re trying to do, very similar to the information flow of StockTwits which is just you taking the human network and really leveraging it to find information, the nuggets of gold that are there because people are out there in the blogosphere, they are reading, they’re interacting, they’re trying to make the most out of everything that they have. In a similar way, this data mining approach lets you take a quantitative situation and really make the most out of it because you’re just able to be ahead of the curve in terms of where the supply and demand is, why is something down so much? Or why is something trying to come up? And again remember to that information that you’re seeing although its streaming and its very fast, this information is not necessarily meant for just day trading, there is all sorts of stuff you can do with it, you can take a streaming feed and you can turn it into a feed that is perfect for swing trading in which case you want to find a weakness that’s like hey, look at all these stocks that are coming in, I want to find the weakest of the weak and bid into it because I think this is short term again that’s just an opinion and I’m just making an example of that opinion. They key is being able to have this information in front of you, information is freedom and you can always ask yourself, how much data can I really monitor and be effective? As a human we can’t really focus our attention on too many things, luckily we’ve got these super fast computers in San Diego that can do all that for you and this should not interfere with your blogging or browsing the internet or whatever else that you’re doing while your trading. All of this can be running all the time on one of your 6 or 7 monitors what; you don’t have 6 or 7 monitors? Ok, how about in the lower right hand corner of your screen? Anyway you like it its all good. So today’s show which we’re taping right at the close here, we are 2 minutes away from the close really is our maiden voyage, you’ve seen me do a show with Howard before where we talked about technology and how we really love the leverage that StockTwits provides to its members when your interacting with the data on the markets, you’re seeing what other people are doing and hopefully making some good inferences from that. Well again, in the quantitative approach it’s almost identical it’s just that there is a lot more data and its coming in a lot more quickly and all you have to do is refine it to what suits you. JMP, 6 times its average daily volume, do I see a tanking? Looks like it. Wow, that’s one of those I’m going to have to keep an eye on for tomorrow, SABA software too, sorry I’m kind of thinking, I still get surprised by some of the cool stuff I see. Again we are making the show sort of short and sweet, we are trying to display how one interacts with streaming, quantitative data, and their trading information. Knocked out, market down 115 on lows, so here we saw the close and by the way streaming data and quantitative data does not stop when the market stops as we all know there is after hours trading and that does not stop for a long, long time so do not be surprised when you’re seeing all this data come through its just part of what happens today in a very volatile and active market. We finished the session June 1st and the market was down 114 points, hopefully we shed some insight on how this type of streaming data can help you be a better trader. This is again I apologize if I’m repeating myself on a lot of things, were going to do a lot better, we’ll have guest speakers and props but right now it’s kind of short and sweet, you get the stock windows, stock charts, and got to see what hard core technology looks like on the trading terminal. I’m going to leave you with this kind of metaphor, remember back in 1987 in the movie Wall Street, Gordon Gecko was in his limousine talking on his brick cell phone Motorola 1987, well the reason why that was so cool in the movie is back then hardly anyone had that kind of information, what you are looking at here in these windows, it’s the metaphorical equivalent of that Gordon Gecko cell phone, in 1987 it was top of the line and in 2010 as far as quantitative data goes for individuals this top of the line. You want to make sure you can get access to this kind of data and reap the benefits, we’ll do more shows and we’ll show you a lot more cool stuff, I had a whole section planned on swing trading next so, look forward to showing that to you and we’re going to sign off.
